PME Sentry Select Primary Metals Corp

Sentry Select Primary Metals Corp. (the "Corporation") (TSX:PME) announces that
it intends to purchase up to 1,709,690 of the class A shares of the Corporation
(the "Shares") for cancellation by way of a normal course issuer bid through the
facilities of The Toronto Stock Exchange (the "TSX"). The 1,709,690 Shares
represent approximately 10% of the public float of the Corporation. As of July
16, 2008, 17,167,900 Shares were issued and outstanding. The public float of
17,096,900 Shares has been calculated as the currently issued and outstanding
Shares, excluding those Shares that are owned and controlled by the Corporation,
the principal securityholders of the Corporation or the directors and senior
officers of the Corporation and excluding those Shares that are pooled, escrowed
or non-transferable.


The purchases may commence on July 21, 2008 and will terminate on July 20, 2009,
or on such earlier date as the Corporation may complete its purchase or provide
notice of termination. Any such purchases will be made by the Corporation at the
prevailing market price at the time of such purchases in accordance with the
requirements of the TSX.


If Class A Shares are offered on the TSX at prices that are less than 90% of the
latest determined net asset value per Share, the manager of the Corporation
intends to offer to purchase such Shares, if it determines that such purchases
are in the best interests of Shareholders, and subject to compliance with the
applicable regulatory requirements and limitations.


The Corporation will not purchase in any 30-day period more than 343,358 Shares,
representing 2% of the issued and outstanding Shares as at the date of
acceptance of the notice of the normal course issuer bid by the TSX.


In the 12 months preceding the date of this release, the Corporation has
purchased for cancellation 1,254,000 Shares pursuant to an expiring normal
course issuer bid at an average price of $6.74, and 232,200 Shares pursuant to a
mandatory market purchase plan at an average price of $6.08.


To the knowledge of the Corporation, no director, senior officer or other
insider of the Corporation intends at present to sell any Shares under this bid.
However, sales by such persons through the facilities of the TSX or elsewhere
may occur if the circumstances or decisions of any such person change. The
benefits to any such person whose Shares are purchased would be the same as the
benefits available to all other holders whose Shares are purchased.


Sentry Select Primary Metals Corp.

The Corporation's investment objective is to provide shareholders with long-term
capital appreciation by investing in an actively managed portfolio consisting
primarily of securities of mining and exploration issuers. Although the
Corporation's initial intended focus was to invest in issuers that are engaged
in the production of and/or exploration for uranium, nickel and molybdenum, the
manager has the discretion to alter the composition of the actively managed
portfolio at any time.


Trading information

The Class A Shares and the Warrants trade on the TSX under the symbols PME and
PME.WT, respectively.


Sentry Select Capital Corp.

Sentry Select Capital Corp. is a Canadian wealth management company that manages
over $6 billion in gross assets as of June 30, 2008. The company offers a
diverse range of investment products including closed-end trusts, mutual funds,
principal-protected notes and flow-through limited partnerships, covering a
variety of domestic and global mandates.


This news release contains forward-looking statements that involve risks and
uncertainties. These forward-looking statements relate to, among other things,
the future performance of the Corporation, including the potential for purchases
pursuant to the normal course issuer bid. These statements reflect Sentry
Select's current expectations, but are subject to a number of risks and
uncertainties. Due to the many risks and uncertainties, Sentry Select cannot
assure that the forward-looking statements contained in this news release will
be realized.




Sentry Select Capital Corp.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

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